Supports/Resistances Indicator for Metatrader 4
Supports/Resistances indicator (S/R indicator) for MT4 (Metatrader 4) is one of the main technical indicators used by traders because of its importance regarding market psychology and supply/demand. We should think of supports as a floor and resistances as a ceiling, with prices moving up and down between them.
You can find the download form below.
Features
- Automatically draws Supports/Resistances lines.
- Distinguishes short-term lines from mid-term and long-term lines.
- Colorful Supports and Resistances for a better visualization.
- Changes from resistance to support and vice-versa once broken.
How to use Supports/Resistances
Understanding how the S/R indicator works is fundamental to predict where a trend is going. By knowing if a trend is likely to reverse or to breakout, a trader can choose whether to open a long or short position.
AT Supports/Resistances allow traders to choose between drawing only long-term S/R’s, or both long-term and short term. No more going back to find S/R’s, start using this indicator to automate the process.
Read more on our article about Supports/Resistances
Please fill in the form below to have access to this indicator for free.